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Services-mailing, reproduction, commercial art & photography company · NV · FY ends Mar · Revenue $4M · -54.88% margin · -$1M FCF
The business is unprofitable at the operating level (-43.46% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 18.9% YoY. Margins deteriorated 21.5pp alongside, both lines moving the wrong way.
Net debt of $22M represents 35.5x FCF, leverage limits flexibility. Operating margin contracted 21.5pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$4M
▼ -18.9% YoY
Net Income (TTM)
-$7M
▼ -63.8% YoY
Op. Margin
-54.88%
▼ -21.5pp YoY
ROIC
-5.18%
▼ -1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1M
▲ +213.1% YoY
Op. Cash Flow (TTM)
-$1M
▲ +298.3% YoY
Net Debt
$479K
Cash & Equiv.
$238K
5Y CAGR: -16.3%
5Y CAGR: -8.5%
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